Psyence Biomedical Ltd. (NASDAQ:PBM) Short Interest Up 205.2% in December

Psyence Biomedical Ltd. (NASDAQ:PBM) was the recipient of a large increase in short interest during the month of December. As of December 15th, there was short interest totaling 312,062 shares, an increase of 205.2% from the November 30th total of 102,238 shares. Based on an average trading volume of 1,571,540 shares, the short-interest ratio is presently 0.2 days. Currently, 17.3% of the company’s shares are short sold. Currently, 17.3% of the company’s shares are short sold. Based on an average trading volume of 1,571,540 shares, the short-interest ratio is presently 0.2 days.

Institutional Trading of Psyence Biomedical

A hedge fund recently bought a new stake in Psyence Biomedical stock. Parallel Advisors LLC bought a new stake in shares of Psyence Biomedical Ltd. (NASDAQ:PBM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 275,000 shares of the company’s stock, valued at approximately $1,466,000. Parallel Advisors LLC owned 48.25% of Psyence Biomedical at the end of the most recent reporting period. Institutional investors own 77.44% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Psyence Biomedical in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Psyence Biomedical Price Performance

Shares of PBM traded up $0.04 during midday trading on Friday, hitting $0.93. The stock had a trading volume of 258,836 shares, compared to its average volume of 915,101. The stock’s 50 day moving average is $2.19 and its 200 day moving average is $3.61. The firm has a market cap of $1.74 million, a PE ratio of 0.22 and a beta of 0.28. Psyence Biomedical has a 1 year low of $0.80 and a 1 year high of $19.04.

About Psyence Biomedical

Psyence Biomedical Ltd. engages in the development of botanical psilocybin-based psychedelic medicines. It also evaluates natural psilocybin for the treatment of adjustment disorder in patients with an incurable cancer diagnosis in a palliative care context. The company’s lead product candidate is PEX010, which is in Phase IIb clinical study, a capsule containing naturally sourced psilocybin for treatment of anxiety and depression, including associated ailments, such as post-traumatic stress disorder, stress, grief, and adjustment disorder in the context of palliative care.